One of the major challenges faced by organizations is employee attrition. With that in mind, here are 10 tips on how you can slow down the revolving door at your organization. Some may be familiar, some may be new, but all should help you inspire long-term loyalty from your employees.
1. Hire the Right People
The best way to ensure employees don’t leave you is to make sure you hire the right ones, to begin with. Define the role clearly, both to yourself as well as to the candidates. And then be absolutely sure the candidate is fit for both the position you are hiring for and your company culture.
2. Fire People Who Don’t Fit
Sometimes even when you hire the right people, you get an employee who, no matter what, doesn’t fit in. These employees do more damage than good by poisoning the culture of your organization. Cut them loose.
3. Keep Compensation and Benefits Current
Make sure you are paying your employees on time and offer them competitive benefits, or really, who can blame them for ditching you? This might seem like a no brainer, but you might be surprised how few companies offer raises and keep up with the development of the employees.
4. Encourage Generosity and Gratitude
Encourage pro-social behavior in your staff. When they are given the opportunity to connect with one another and they are on the lookout for good behaviors to commend, it gives them a sense of generosity, gratitude, and ultimately, a sense of responsibility.
5. Recognize and Reward Employees
Show your employees they are valued and appreciated by offering them real-time recognition in forms of rewards to celebrate their success and efforts.
6. Offer Flexibility
Today’s employees crave for a flexible work-life balance. That means, if you are not offering them the flexibility around working hours and locations, they might easily leave you for someone who will.
7. Pay Attention to Engagement
It’s not enough to run the engagement survey once a year and then forget about the whole thing. You need to save most of your energy and take action based on the results. You also need to work to build a culture of engagement in your company all year long.
8. Prioritize Employee Happiness
Happiness may sound a bit cliché and squishy to most leaders, but the numbers behind it are anything but. Employee happiness is the most significant indicator of job satisfaction, so invest in the happiness of your employees by paying dividends in engagement, productivity and yes, retention.
9. Make Opportunities for Development and Growth
Employees place immense value on opportunities for growth. If you are not focusing on the development of your employees then why should they stay with you? So, make way for their development and career growth.
10. Clean Up Performance Reviews
Performance reviews offer a prime opportunity for a big win to increase trust and thereby fortifying your relationship with employees. Improve performance management by overhauling reviews, and watch employee satisfaction and loyalty grow.
Use these tips to help build a culture in your organization that will keep up your revenue rates, your best employees on board, and productivity for years to come. If taking care of employees and their needs fascinate you, pursue online HR courses from credible online platforms. Online HR management programs make sure you understand the complexities of the business world and learn how to manage employees, lowering the attrition rate for your organization.